10/04/2021
Today
Robert Shiller, New York Times An economist says the three major U.S. markets all show signs of severe overpricing. |
Rob Smith, RCM If I was a seal and some British officer was trying to club me to death, I'd bite the Limey son of a bitch. I'd go straight for his gonads, and I'd get my seal buddies to do the same. If you've heard the story of Sir Ernest Shackleton as told in Alfred Lansing's book Endurance, you may know something about clubbing seals. Shackleton, the famous British explorer, got trapped in the South Atlantic ice pack in 1914. His ship, the Endurance got crushed, and the crew was afloat on the moving ice for 20 months. What saved his 27 man crew from starvation was the docile stupidity of seals. There... |
Jordan Weissmann, Slate It won't transform the welfare state, but it could give it a serious upgrade. |
Andrew Wilford, RealClearMarkets As Democrats seek to downplay the impact of legislation that will likely end up adding as much as $5-6 trillion in new spending, they have resorted to a new rhetorical tactic: claiming the Biden agenda will cost nothing at all. President Biden and Speaker Pelosi each said over the past week that Democrats' agenda will "cost zero dollars." Press Secretary Jen Psaki even doubled down on the claim afterwards. But while the idea that the reconciliation bill will have no cost is transparently false, Democrats' underlying argument is untrue as well. |
David Solomon & Kenneth Adams, CNN One under-tapped talent pool is the nation's community colleges. These educational institutions are anchors of their local communities as well as centers of mobility and innovation. And the students there are hungry for opportunity. |
John Tamny, Forbes Just as commercial activity isn't static, neither is intelligence. |
Charles Gasparino, New York Post I've noticed something lately covering the woke culture that's threatening to turn corporate offices into university-style safe spaces: There are apparently limits to how far left big companies are… |
Jerry Haar, The Hill Democrats' sense of injustice about the American economic system dates back at least to the times of William Jennings Bryan and Woodrow Wilson. |
Brad Polumbo, Washington Examiner One of the few issues of increasing bipartisan agreement in U.S. politics is the supposed need for the federal government to "do something" to crack down on Big Tech. While issues with social media giants certainly do exist, Congress just offered us yet another reminder of why it can't be trusted… |
Gus Van Horn, RealClearMarkets I know many people avoid genetically modified organisms (GMOs), but I'd never heard of this. Although I am a bioscientist, I was unaware I had to avoid GMOs in the name of health, food security, and proper agriculture. According to its sponsor, the Non-GMO Project, all of October is a chance to "raise awareness about ... choosing non-genetically modified foods."Genetically-modified food has been around for decades, and has been served trillions of times. Ninety percent of our corn was GMO in 2014. Am I missing something? |
Editorial, The New York Sun If President Biden nominates Jerome Powell for a second term as chairman of the Federal Reserve, the question for which we'll be waiting is whether Mr. Powell tried to derail the nomination to the Fed's board of Judy Shelton. President Trump had |
Ron Paul, American Consequences As prices squeeze the middle class, it's time to audit and expose the puppet master of the Fed and their reckless money-printing. |
James Picerno, Capital Spectator Global markets suffered their broadest retreat in a year during September. The bullish exception: commodities, which delivered a solid gain last month. Cash, as usual these days, was flat. Otherwise, red ink dominated performances for the major asset classes last month. |
Brad McMillan, Commonwealth A perfect storm of concerns hit the markets in September, but Commonwealth CIO Brad McMillan says the outlook for Q4 2021 remains positive. |
Hayden Adams, Charles Schwab Tax-loss harvesting—offsetting capital gains with capital losses—can lower your tax bill and better position your portfolio going forward. |
Christine Benz, MStar Even savers whose assets exceed their healthcare outlays have some escape hatches. |
James Picerno, Capital Spectator After a summer of drifting lower and then holding in a range, the benchmark 10-year US Treasury yield is running higher this month. Does the jump mark a regime change after decades of trending lower? Or is this one more bout of noise? |
Ironman, Political Calculations If you had to pick one aspect of nearly American life that would be most measurably impacted by 2020's coronavirus pandemic, what would you choose? |
Thomas Kirchner & Paul Hoffmeister, Camelot Portfolios by Thomas Kirchner, CFA No Lehman or Minsky moment in sight. China's real estate market to crash. Domestic repression and international conflicts will cover up economic problems. The Evergrande default on $2 billion of Dollar-denominated foreign bonds itself, or the broader collapse of t |
Kenneth Rogoff, Project Syndicate The Chinese government may yet succeed in insulating the broader market from the financial crisis at real estate giant Evergrande. But the larger challenge is to rebalance an economy that has depended for far too long on the bloated housing market for jobs and growth. |
Eric Boehm, Reason Among Americans who aren't liberal pundits, the debt and deficit rank as major concerns. It's about time Congress noticed. |
Debra Kamin, New York Times Three-dimensional printing can create nearly any object. A partnership in Mexico is putting that theory to the test, building a village for residents living in poverty. |
Paul Ford, Wired The free market has plenty of grandiose ideas about how to fix our broken planet. There's just one problem: We can't afford another bust. |
Izabella Kaminska, FT Alphaville The UK in pursuing net zero carbon emissions has created energy poverty across the country, |
Connor Harris, City Journal Citizens in Germany's capital approve a radical referendum that won't solve the city's housing crisis. |
Morgan Housel, Collaborative Fund Being right is the enemy of staying right. |
John Rekenthaler, MStar There is another way to reconcile how ETFs and mutual funds are taxed. |
Stephen S. Roach, Project Syndicate The new dual thrust of Chinese policy – redistribution plus re-regulation – will subdue the entrepreneurial activity that has been so important in powering China's dynamic private sector. Without animal spirits, the case for indigenous innovation is in tatters. |
Steve Malanga, City Journal States increasingly look to ban travel and business with other American locales. |
Ben Carlson, A Wealth Of Common Sense A mix of speculative and conservative behavior from investors makes this a difficult market to handicap. |
Barry Ritholtz, The Big Picture In Hemingway's "The Sun Also Rises," a character is asked how he went bankrupt: "Gradually, then suddenly." Name me a better 3-word phrase that can explain nearly everything. |
Wade Slome, Investing Caffeine Even though the major stock market indexes are roaming near all-time record highs, FUD remains rampant (Fear, Uncertainty, Doubt). |
Doug Johnson, Ars Technica Early price forecasts underestimated how good we'd get at making green energy |
Kyle Chayka, Kyle Chayka Industries How platforms mess with our tastes. |
Zachary Crockett, The Hustle Across the country, school districts are struggling to fill transportation jobs. The shortage helps explain systemic problems in the labor market. |
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